World Trade Organisation: an introduction
Origins Following World War II, the architects of the Bretton Woods Agreement proposed the formation of an international trade organisation to oversee a new multilateral system of international trade. The international trade organisation was intended to sit alongside the International Monetary Fund (IMF); however, it never came into existence due to opposition in the US Congress, which was concerned that such organisation would encroach excessively on domestic sovereignty. This led to the negotiation of a provisional agreement: the General Agreement on Tariffs and Trade (the GATT). The GATT ...
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